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On January 1, 2021, Pharoah Co. has the following balances: Projected benefit obligation Fair value of plan assets $3100000 2600000 The settlement rate is 10%.

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On January 1, 2021, Pharoah Co. has the following balances: Projected benefit obligation Fair value of plan assets $3100000 2600000 The settlement rate is 10%. Other data related to the pension plan for 2021 are: Service cost Amortization of prior service costs due to increase in benefits Contributions Benefits paid Actual return on plan assets Amortization of net gain $260000 84000 460000 185000 355000 22000 The fair value of plan assets at December 31, 2021 is $3100000. $3032000. $3230000. O $3455000

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